The EU's bank is quitting fossil fuels!

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This is a victory for the climate movement, but the fight isn’t over. Even in the case of this win, there are still loopholes that may allow for continued financing of fossil gas projects. 

To continue fighting for groundbreaking victories like this one and to keep up the pressure on European institutions, we urgently need people to step up and help fund our campaigns. Can you become a monthly supporter of 350.org? 

Can’t make it monthly? Click here to make a one-time donation.

When it comes to undermining progress, we know where the blame lies. Supposed ‘climate leader’ Germany has been supporting new fossil gas projects all over Europe - infrastructure that would lock us into decades of dependency on dangerous fossil fuels and undermine our efforts to deliver climate justice.

The European Commission even lobbied for fossil gas to be allowed within the fossil-free lending plan. In a recent list of new infrastructure projects that would still be eligible for priority funding, the Commission included over fifty fossil gas projects. This cannot continue. 

Thanks to a strong coalition of NGOs and grassroots groups across Europe, we were able to put on the pressure when the EIB announced a public consultation period of the lending program which was, in large part, what made this victory possible.[1] 

350 supporters sent postcards and faxes to ministerial targets, built public pressure through petitions and digital actions and organized across Europe to pressure the EIB to put a stop once and for all to fossil fuel lending. 

But, the fight isn’t over. Here at 350, we are laser-focused on stopping the financing of fossil fuel projects and keeping fossil fuels in the ground in Europe and around the world. Thanks to supporters we are able to plan for big bold campaigns worldwide. Can we count you in?

Onwards,

Matilda - for the 350.org team

[1] EIB

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